Today the promoters of Alfa Laval (India), who are a Sweden based Alfa Laval Corporate announced consideration of their voluntary delisting from its Indian business on both the BSE SENSEX and the NSE NIFTY. The discussion on this matter would take place when the company meets next in their board meeting slated to be held on 19th September 2011. They would be deciding on whether to go ahead of their delisting process or not.
The firm is a manufacturing concern which manufactures machinery for food and the beverages sector. The consideration which is to take place would involve the discussion over their proposal of delisting offer to its shareholders by offering them to acquire 2.04 million shares of the firm which constitutes about 11.23% of the total paid up capital. At the present moment the promoters hold 16.1 million shares which is about 88.7% of the total paid up equity share capital of the company.
The stock is currently trading at 1969 levels and closed 11.90 points higher than its previous close this Friday. The stock has already risen 500 points within the span of two months and is at great levels at the present moment. The levels of 2100 look likely to be the next reach of the stock from where it might correct a bit.
Bell the Bull says: The decision on September 19th can be vital to decide the movement of the share on the Index